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Solution # 2 - The ability to manipulate their data into different formats.
Any trader whom has been trading for any length of time quickly begins accumulating data that will be in different formats. Some of the more commonly encountered formats are: OMZ, XPO, MetaStock, CompuTrac, CSI, AIQ, CQG, DialData, and so on. The data format utilized is dependant upon the charting application used. Should the trader desire to switch to or use different charting or analysis applications it often means they must maintain multiple databases of the same data in different formats. This expensive and inconvenient!
History of Data Formats
The first significant professional end of day and real time computerized charting application was CompuTrac. This program sold for several thousand dollars, and was a DOS based operating system. In order to store real time and end of day data the designers of CompuTrac created a data format. This data format would dictate how the data was stored on the traders hard disk. Naturally enough it was called "CompuTrac format"! Simultaneously an end of day data vendor came into existence which catered to the professional traders whom were attracted to the CompuTrac charting application. It can be stated that these were professional traders as the other charting app's cost less that $500. Within a fairly short period of time this format became the "defacto" standard to format financial prices in. As an aside, this DOS based charting application is in many ways superior to today's charting applications as DOS was a much more "real time" operating system than Windoz.
Today's Real Time Data Collection Reality
Today's reality is significantly different. No one access's a data vendors database by calling a long distance number. No one has a modem slower than 56K, with the vast majority are using a high speed internet connection (cable, wireless, or DSL). The size of a Gig of hard disk space continues to plummet. Yet, there is still no common standard to store compressed pricing data, and in reality there is little need for compressed data.
DataSharks created a program that will convert data in one format into another data format without a loss of integrity. This will allow traders to rightly re-claim the data they paid for and use it in whatever application they desire. DataSharks is constantly expanding the number of convertible formats, please check our product page for current information on supported formats.
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